Sustainable development of the steel industry

Color-coated steel production line at Hoa Phat Group's factory. (Photo: NGUYEN NGHI)

In 2024 alone, Vietnam will face at least seven steel-related investigations, accounting for 26% of all cases involving export goods. Recently, at the end of August 2025, the US Department of Commerce (DOC) imposed anti-dumping duties ranging from 87.07% to 162.96% on galvanized steel products from Vietnam due to suspected origin fraud; Mexico also initiated an anti-dumping investigation on steel wire rope in the 2022-2024 period.

According to experts, the main reason is the situation of "borrowing origin", transferring steel from countries with high taxes to Vietnam to label "Made in Vietnam", avoiding taxes. This behavior causes Vietnam Steel being suspected, subject to high taxes, reducing competitiveness and damaging its international image. Other legitimate businesses were also implicated, leading to a decline in exports across the industry.

According to the General Statistics Office ( Ministry of Finance ), in the first nine months of 2025, Vietnam exported only 7.92 million tons of steel, reaching 5,174 million USD, down 79.6% in volume and 71.7% in value compared to the same period in 2024. If prolonged, major markets may stop importing or expand investigations, causing a chain reaction to other industries such as textiles, footwear, electronics, etc. Once the national reputation is damaged, it will take many years to restore trust. Therefore, to escape the investigation spiral and affirm a sustainable position, Vietnamese steel enterprises have no other choice but to proactively improve their capacity and awareness of compliance in trade defense.

First of all, steel enterprises need to apply quality management according to international standards such as ISO 9001 or ASTM, build strong brands to affirm their values. Increase chain links, self-sufficiency in domestic raw materials, reduce dependence on imports from countries with high taxes because this is considered the best "shield" in investigations. In addition, it is necessary to overcome the situation of lack of transparency in accounting books and financial reports of unknown origin to avoid suspicion.

At the same time, it is necessary to pay more attention to trade defense tools, to understand how these measures operate to proactively respond and protect oneself. In particular, it is necessary to overcome the hesitation and lack of coordination among businesses in the same industry that are affected due to the fear of revealing business secrets when encountering trade defense cases to build a unified set of documents. This will make the investigations convincing enough, avoid data dispersion and give the authorities enough grounds to protect the legitimate interests of businesses.

Therefore, this is an important time for the Vietnamese steel industry to choose whether to continue to "absorb the blow" from trade protection measures or proactively reform the management system, increase competitiveness, and demonstrate its transparency to the international market. In particular, it is necessary to focus on product standardization, develop supporting industries, and promote green and clean transformation in production. A sustainable, environmentally friendly steel industry with a clear value chain will be less "scrutinized" in trade investigations, while meeting increasingly stringent requirements from major import partners.

Only when businesses together improve their internal capacity, comply with international standards and maintain business ethics, will the reputation of Vietnamese steel become solid; continuing to affirm its position as a heavy industry playing an important role in the journey of sustainable, long-term development of the country's economy .

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